How you can file income tax return even without filling Form 16?

Salaried class people use Form 16 to file ITR. Many times Form 16 is not available from the company due to some reason. But, probably only a few people know that ITR can be filed even without Form 16

Form-16 mentions the salary, allowance and deduction given to the employee. Not only this, it also contains information about TDS i.e. Tax Deducted at Source deducted on salary by the company i.e. the employer.

In the absence of Form 16, individuals can file ITR using documents such as salary slips, Form 26AS and investment records to claim deductions. To file ITR without Form 16, you need to follow a few steps.

First of all, for the financial year for which you are filing the return, all the salary slips of that year have to be collected. The salary slip should contain the information about salary, allowance and deduction. Then, you have to add all these things. After removing House Rent Allowance (HRA), home loan interest deduction and standard deduction, you will arrive at taxable income. If TDS is deducted from the salary, then, its information will also be mentioned in the pay slip.

Apart from salary, if you have any other income like interest received from bank or income from dividend, then check the bank account statement for that… If you earn by renting a house, then all these amounts must be included in taxable income.

If you make any kind of tax savings investment under sections like 80C, 80D, then claim it. These include provident fund (EPF), principal of home loan, life insurance policy including term insurance, health insurance premium cover. For this it is important that you check their statements and calculate the amount. Mention these deductions in the ITR form. After which you will arrive at Net Taxable Income.

If you do not have Form 16, you can get information about your TDS and TCS through Form 26AS. Form 26AS contains information about all the tax deducted and deposited on your PAN. Along with the tax deducted by the employer and the bank, it also contains information about advance tax, high value transactions. Match the TDS deducted during the whole year with the TDS details given in Form 26AS. If any other TDS has been deducted, mention the same in the return.

You can download Form 26AS from the Income Tax Department’s e-filing portal (https://eportal.incometax.gov.in/). After logging in to the portal, you will have to go to the ‘e-file’ option. Where in the option of ‘Income Tax Return’ you will see the View Form 26AS option. By clicking on it Form 26AS will be downloaded.

If your deducted TDS matches with Form 26AS, then you can file a return. TDS deducted from your earnings will be adjusted in the total tax liability. If you have any refund, then it will be credited to your bank account.

Like Sumit, even if you have not received Form 16, you can still file your return. Whether you receive Form 16 or not. It is your responsibility to file the return. One more thing, just filing the return will not work. Don’t forget to verify it later. Return without physical or e-verification is considered incomplete and income tax department will not process it. Also, if your refund is made then that will also get stuck. Apart from Form 16, you can file ITR from Form 26AS, as well as check the Annual Information Statement (AIS). Even from this you can get all the information.